Having initially established the marked price of a particular commodity at a 20% premium over its cost price, a retail vendor subsequently extended an unspecified discount. If, following this concession, the transaction ultimately yielded a profit of 8% on the cost price, what was the exact percentage of the discount given?
10%
Let the cost price be \(CP = 100\) (for ease).
Marked price (20% above CP): \(MP = 120\).
Selling price (8% profit on CP): \(SP = 108\).
Discount on MP:
\(\text{Discount\%} = \dfrac{MP - SP}{MP} \times 100 = \dfrac{120 - 108}{120} \times 100 = \dfrac{12}{120} \times 100 = 10\%\).
Hence the discount given is 10%.
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